Saratoga Futures Blog

U.S. Economy: Job Cuts in June Deeper Than Forecast

Saratoga — Thu, 02 Jul 2009 19:36:42 +0000

Employers in the U.S. cut more jobs than forecast in June and the unemployment rate rose to the highest in almost 26 years, offering scant evidence the Obama administration’s stimulus package is putting Americans back to work. more>>

Commodity players seek reforms, market depth

Saratoga — Thu, 02 Jul 2009 19:35:29 +0000

Indian commodity futures traders are seeking permission for foreign funds and banks to invest in the market and more powers to the regulator to boost trade and protect investors, industry players said. more>>

Green stocks flourish despite demand concerns

Saratoga — Thu, 02 Jul 2009 19:34:06 +0000

While green shoots of economic recovery are appearing only tentatively, green stocks are showing no such hesitation. more>>

CME Revs Up for Surge in Carbon Credit Trading

Saratoga — Thu, 02 Jul 2009 19:32:23 +0000

As the Senate debates the American Clean Energy and Security Act recently passed in the House that attempts to create a cap-and-trade scheme for carbon emissions in the U.S. similar to Europe's, the Chicago Mercantile Exchange has been ramping up its efforts to prepare for an expected surge in carbon credit trading. more>>

Electronic vs. Pit Volume 7/1/09

Saratoga — Thu, 02 Jul 2009 17:04:22 +0000

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS

Product	Electronic Volume	Pit Volume	Percent Electronic of Total Volume
Crude Oil	493,781	36,995	93%
Natural Gas	128,719	8,581	94%
Corn	276,267	43,896	86%
Soybeans	147,375	18,163	89%
Wheat	78,997	3,743	95%
Live Cattle	19,032	20,262	48%
Lean Hogs	17,794	13,015	58%
COMEX Gold	97,272	6,848	93%
COMEX Silver	22,392	1,873	92%
COMEX Copper	18,638	725	96%

Futures vs. ETFs 7/1/09

Saratoga — Thu, 02 Jul 2009 17:00:48 +0000

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS


Product	Future	Volume	Factor*	ETF	Volume	Futures Liquidity Multiple
S&P 500	ES	1,534,550	500	SPY	173,041,088	4.4
NASDAQ 100	NQ	224,432	800	QQQQ	85,975,904	2.1
Russell 2000	TF	114,629	1000	IWM	46,383,036	2.5
Gold	GC	97,272	1000	GLD	10,744,128	9.1
Silver	SI	22,392	10000	SLV	6,506,228	34.4
Crude Oil	CL	493,781	1000	USO	16,223,552	30.4

* Factor - the number of ETF shares that are approximately equivalent in notional value to the notional value of one futures contract

USA Spending.gov

Jay L — Thu, 02 Jul 2009 14:24:13 +0000

Another fascinating take from the new CIO of the USA. Track all of the United States spending, access the raw data and analysis at usaspending.gov. More>>

Employment Report: 467K Jobs Lost, 9.5% Unemployment Rate

Jay L — Thu, 02 Jul 2009 14:23:39 +0000

From the BLS: Nonfarm payroll employment continued to decline in June (-467,000), and the unemployment rate was little changed at 9.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Job losses were widespread across the major industry sectors, with large declines occurring in manufacturing, professional and business services, and construction. More>>

Unemployment and the S&P Composite Since 1948

Jay L — Thu, 02 Jul 2009 14:22:58 +0000

Doug Short: The monthly unemployment rate for June rose to 9.5% — up from 9.4% in May. The chart here shows the pattern of unemployment, recessions and both the nominal and real (inflation-adjusted) price of the S&P Composite since 1948. More>>

Freddie, Fannie to Provide 125% LTV Mortgages, Worse Than Extremes of Subprime Frenzy

Jay L — Thu, 02 Jul 2009 14:08:58 +0000

If you had any doubt that the intent of policy, such as the heroic efforts by the Fed to channel money to the mortgage market my manipulating spreads of mortgage paper so as to lower borrowing costs, was not merely to clear inventory but boost prices, today's action should put your mind at rest. More>>